Stocks on the move: Microsoft to buy Bethesda for $7.5B, airlines await further federal aid
Yahoo Finance's Adam Shapiro breaks down the stocks to watch Monday.
Video Transcript
ADAM SHAPIRO: Now we'll look at some stocks on the move. First, there was some positive news from Microsoft, even though shares are down about 1 and 1/2%. They were off about the same at the opening bell. This morning, they announced plans to acquire Zenimax Media. That's for 7.5 billion cash. Zenimax is a private company.
They are a software game creator, including Bethesda Game Studios, ID Software, and Zenimax Online Studios, a whole bunch of them there. You may recall they had sued Facebook back in 2014 for $4 billion. They settled out of court on that one. So Microsoft will be acquiring Zenimax. Microsoft, by the way, [INAUDIBLE] shares are off 8%.
Now we got to turn our attention to the airlines. We are waiting for a potential stimulus package out of Congress, but no word if that will happen and whether the airlines will get a another billion dollar bailout. But American Airlines today off 6%. Even United, United is down almost 9%. In regards to American, CEO Doug Parker pleaded for assistance from Congress last week. He said, quote, "or hundreds of thousands of people will be out of work and service to small communities will be discontinued."
We did get a report overnight from Raymond James. They said in regards to the potential for stimulus that if a bill is passed and it's closer to the $2 trillion that Nancy Pelosi is holding out for, they believe at least at Raymond James that that kind of deal would include more money for the airline industry.
